Unlocking Hidden Gems: The case for carrying authentic pre-owned luxury bags in jewelry stores

The jewelry industry, renowned for its timeless elegance, is no stranger to embracing innovation to meet evolving consumer demands. As shoppers seek unique experiences and sustainable options, retail jewelry stores are increasingly discovering a promising new revenue stream: selling authentic pre-owned luxury bags. By diversifying their offerings, these stores can tap into a new market segment while fostering customer loyalty. Let’s explore why jewelry stores should consider this exciting venture.

Authentic pre-owned luxury bags hold a special allure for discerning customers. Eva-Michelle Spicer, co-owner of Spicer Greene Jewelers in Asheville, North Carolina, explains: “There are no luxury stores in the area, and Asheville attracts nearly 12 million tourists each year. Customers who see bags in the store often want to stop in and pair the bag with a particular piece of jewelry.” She and her co-owner husband note that these bags offer rarity, affordability and contribute to sustainability efforts – an attractive trifecta for luxury shoppers.

Jewelry retailers like Spicer Greene possess the ideal infrastructure and expertise to incorporate pre-owned luxury bags into their product mix. Fred Mannella, Co-Founder & President of Two Authenticators Inc., emphasizes that luxury bags can enhance revenue per square foot and draw in foot traffic. “The seamless integration of bags alongside jewelry creates a shopping experience that surprises and delights customers.”

By offering pre-owned luxury bags, retail jewelry stores unlock additional sales opportunities and attract new customers. Eva-Michelle began featuring luxury handbags in October 2020 and notes: “Margins are not like jewelry, but the shock and awe is great – customers do not expect to see the luxury bags when they come into the store.” This unexpected discovery cultivates customer trust, builds loyalty, and encourages repeat visits, resulting in long-term business growth.

Ensuring authenticity and maintaining quality control are paramount concerns when venturing into the pre-owned luxury bag market. That’s why it’s essential to procure bags from trusted sources and integrate third-party authenticating tools such as Entrupy, which uses AI to verify a bag’s authenticity. Fred Mannella assures retailers: “Our automated processes make it easy for jewelers to buy authenticated luxury bag inventory at the best price with the least friction possible.” By partnering with experts like Two Authenticators Inc., retailers can guarantee the integrity of their offerings while safeguarding their brand image.

The convergence of retail jewelry and authentic pre-owned luxury bags offers a compelling proposition for jewelry store owners. Eva-Michelle Spicer reinforces this: “Customers that see bags in the store often want to trade up or pair the bag with a particular piece of jewelry.”

As the industry continues to evolve, retailers must adapt and explore new avenues. By embracing the allure of pre-owned luxury bags, jewelry stores can create a memorable shopping experience, increase revenue, and position themselves at the forefront of the luxury retail industry.

Learn more about Two Authenticators here.

Learn more about Spicer Green here.